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To: bigbuk who wrote (343)10/21/2003 11:45:13 AM
From: Andrew  Read Replies (1) | Respond to of 29622
 
Top of the Bear Market Witnessed?

By Peter Grandich
October 9, 2003

www.grandich.com



I believe there’s a strong likelihood we witnessed the top of this bear market rally in the U.S. stock market today. There are an ever-increasing number of negative economic and political factors that I believe will seriously impact the stock market to the downside going forward. While we can still limp over 10,000 on the DJIA, I believe we will see new lows. Aggressive traders can go short on the major indices. CNBCTV, a media outlet I almost never watch (but did today), was full of good cheer today on the “celebration” of the one-year anniversary of the market “lows.” I believe we have been in the “eye” of a hurricane this past year, an event that will once again trap those who follow the “Don’t Worry, Be Happy” crowd on Wall & Broad.



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Eye of the hurricane I like that. 1050 looks like top on SP500 rising wedge.